KPS Capital Partners (KPS), which manages “a family of private equity limited partnerships with over $1.8 billion of committed capital,” created a new division called North American Breweries, Inc. (NAB). The new division, NAB, was formed to be the umbrella organization directing three new acquisitions by KPS; High Falls Brewing, Labatt USA and a perpetual license to sell Seagram’s Cooler Escapes and Seagram’s Smooth.
The sale of Labatt USA was mandated by the U.S. Department of Justice as a condition of approving InBev’s purchase of Anheuser-Busch last year. The financial terms were not disclosed, but apparently the DOJ has already approved the deal.
As far as I can tell, there’s no website set up yet for NAB, just this NAB page at the KPS website.
From the KPS press release:
Raquel Vargas Palmer, a Partner of KPS, said, “The Labatt USA acquisition completes the foundation of the North American Breweries platform. My partners and I are very pleased that Rich Lozyniak will serve as CEO of the new company, following two exceptional tenures with other KPS portfolio companies. We are confident that Rich and the North American Breweries management team will enhance the company’s value through acquisitions and many other exciting initiatives that drive organic growth of the company and its brands.”
And here’s how they describe their new entity:
About North American Breweries, Inc.
North American Breweries is a national platform for investments and growth in the beer and malt beverage industries. Formed in 2009, North American Breweries owns High Falls Brewing Company, one of the largest and oldest continually operating breweries in the United States, and is the exclusive marketer and seller of Labatt brand beer and Seagram’s Coolers in the United States. The company’s brands include the complete line of Labatt beers, including the flagship pilsner Labatt Blue and Labatt Blue Light; the Genesee line and the Dundee Ales & Lagers family, which includes the Original Honey Brown Lager; and Seagram’s Cooler Escapes and Seagram’s Smooth. It is also America’s exclusive distributor of several imports, including Steinlager from New Zealand, Toohey’s New from Australia, Thwaites from the U.K. and Imperial from Costa Rica; and a manufacturer of beer and other alcoholic and non-alcoholic beverages under contracts on behalf of other companies. North American Breweries is a portfolio company of KPS Capital Partners, LP.</blockquote